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Gold/Mining/Energy : JABA INC.(c.jba) -- Ignore unavailable to you. Want to Upgrade?

To: Ross who wrote (597)	9/28/1998 6:51:00 PM
From: Chuca Marsh	Respond to of 1044

Ross, check out the website two clicks in are rotating PIXs, best since I saw Geo Stuff 4 weeks ago at AZ Maxam Gold! Amazing tech: To: +Lee Bush (5676 ) From: +Chuca Marsh Monday, Sep 28 1998 6:30PM ET Reply # of 5809 .... Formation was up in another AZ county! It was an example of what could happen. Chuca PS- Want to see what Dale has keyed into for geology what MAY be under his Paleochannels?!: Click on the Second Entry Page For the Below Words: jaba.com ( These Rocks raise up the Geology Stuff Pages at the Surface that Dale has a5t : maxamgold,com Animated view, rotating counterclockwise from south to north Click on these two Geology Websites Print out the surface pictures at

To: Ross who wrote (597)	10/2/1998 8:19:00 PM
From: Chuca Marsh	Read Replies (1) \| Respond to of 1044

Value Added Theory, and a mix of Buy and Hold ...for the FUTURE: Date: Fri, 02 Oct 1998 16:08:19 -0700 From: "Mardee S. Briscoe" <mbriscoe@jaba.com> Organization: JABA (US) Inc. Clarification Announcement on the value of JABA's ISL--SX-EW Project, southeastern Arizona, J. M. Guilbert October 2, 1998 JABA Inc. management has been advancing the due diligence evaluation of its in-situ-leach—solvent extraction-electrowinning copper projects in the Cochise Mining District in Arizona, for which it has recently (July 24, 1998) signed a Letter of Agreement with Delta Exploration, LLC, of Scottsdale, Arizona. The drilled-off resource includes four billion pounds of ‘oxide copper' (chrysocolla) in two near-by areas previously known as the I-10 and Dragoon bodies, now to be called Sullivan North and Sullivan South. Both consist of porphyry- copper-related skarn zones between a shallow quartz monzonite porphyry intrusion and a thick section of Paleozoic limestones. Early due diligence study has focused on land titles, and has shown that all titles are in order. Due diligence on the 140 existing drill holes, their assays, environmental permitting, and technological- engineering reports in hand is proceeding rapidly and favorably by JABA and by The Winters Company consultants of Tucson. Development of the Sullivan property as a fast-track, early copper producer has become practical both through recent consolidation of the land position and by developments in in situ leaching technology. Further details are given in JABA News Releases of July 24, August 17, and September 28 and Clarifications of July 30 and August 19, all available on their web site at www.JABA.com. In an effort to inform JABA shareholders of the economic significance of this acquisition and as points of information for potential joint venture partners, some interesting projections and facts can be pointed out. The ‘four billion pounds of copper' represents a major asset. The news releases assert that this resource has already been drill-defined, and that the only foreseeable adjustment of reserves upon further drilling will be upward. Four billion pounds of copper assumes real value ‘in the ground' as well as upon extraction. Even at copper prices as low as the present approximately US 80 cents a pound, the raw value is $ 3.2 billion dollars. JABA has about 22 million shares outstanding, so the copper-value-in-the-ground is (at 80 cents per pound) US$143 per share of JABA stock (C$219). After extraction, even if one pessimistically assumes only 50% recovery and an ‘all-in' production cost of 50 cents a pound (leaving a profit of 30 cents a pound), the profit value generated is $600 million, or $26.86 (C$41.09) per JABA share. A copper price increase over US 80 cents yields a ‘bonus' per penny up-tick of $20 million further profit (89 cents per share). Each percentage point of improved recovery over 50% generates another $12 million profit, or $0.53 per share. And each cent of reduced all-in production cost below 50 cents per pound adds yet another $0.89 per JABA share. There are some ‘downside risks' such as low transmissivities or reagent costs. But a reasonable scenario of 70% recovery and 40-cents-per-pound cost at 80-cent copper generates a return of $1.12 billion, or US$50.13 (C$76.70) per share, and an optimistic but plausible scenario of 80% recovery and 30-cents-per- pound cost at 80-cent copper values creates a profit of US 1.6 billion dollars, each current JABA share being worth US $71.62. Most forecasters recognize the cyclical price of copper — at 90 cents and $1 per pound copper, the last profit numbers become $1.92 and $2.24 billion and $85.94 and $100.27 (C$131.49 and C$153.41) per present JABA share respectively. JABA shares have traded as high as C$0.50 this year, and presently trade at around C$0.11. These figures are forward-looking and clearly involve assumptions, but the basic arithmetic is solidly positive. JABA's business plan is to seek a joint venture partner to assist with both capital investment and technology, so the foregoing ‘per share' figures will be reduced somewhat according to and depending upon the specifics of the joint venture agreement. But note that capital costs to be provided by the JV partner are included in the production cost and profit figures given above — returns to JABA shareholders should remain robust. These figures are presented as realistic and rational projections — details of the calculations can be provided. They are given to indicate to present and future JABA shareholders, and to potential joint venture partners, that there is great real value at Sullivan North and South and that the cash flow-through and indicated profits from the property are attractive. (Except for historical information contained herein, the statements on this clarification are forward-looking statements which involve unknown risks and uncertainties which may cause a company's actual results in the future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product price volatility, product demand, market competition and risk inherent in the companies operations.) -- Mardee S. Briscoe Vice President/Business Mgr. JABA (US) Inc. 2766 N. Country Club Rd. Tucson, AZ 85716 (520)327-7440 voice (520)327-7450 fax ChucapostwithSafeHarbors,Catamarans,WhaleWatcherShipTourand-ThereBeWhalesTharr!!! !